How to lower drop-off on your “Link Bank” screen
Fintech apps are forced to ask users some hard questions.
After asking for a user’s Social Security number, requiring a user to connect his or her bank account may be the next most challenging request.
Both of these questions require the user to offer something very personal and something that can easily be compromised.
As fintech app entrepreneurs, product managers, and designers, we can easily forget that users aren’t always convinced they want to follow through with signing up even if they are currently in the process. They could simply be looking for additional information when they get hit with a hard-hitting question.
Fortunately, words can help.
Finding the right words to formulate your “Link Bank” screen can help a user feel a sense of trust, security, and safety.
To make users feel all of these things, there are a number of points you need to hit:
Why a user needs to connect his or her bank account
The value a user gets from connecting his or her bank account
Usage of bank-level and data encryption
Disclosure of information storage
FDIC-insured disclosure
SIPC-insured disclosure
Agreement and legal disclosures
The struggle is hitting all of them on one screen. You may also be grappling with other constraints like:
Bandwidth or resources to change the design
Not wanting to extend onboarding by adding additional screens
I know these constraints are real because I dealt with them when I rewrote copy for Twine’s “Link Bank” screen in user onboarding. We couldn’t update the design at that point in time, and our already eight-minute-long user onboarding couldn’t be extended.
Here’s where we landed:
Again, the design couldn’t be updated at that point in time, so I had to select the most important information to fit on the screen that involved no design lift.
Our secret weapon: the information bubble icon.
By adding an information bubble icon, we were able to add additional information to users who wanted it, while allowing users who felt comfortable to continue unencumbered. We also didn’t have the resources to add another screen to onboarding, so this was a great workaround for that reason too.
What we accomplished at Twine was only one approach. Every fintech app asks a user to connect his or her bank account differently–here’s how Earnin, Acorns, and Albert go about it.
Earnin
Points Earnin hit on:
The value a user gets from connecting his or her bank account
Usage of bank-level and data encryption
Points Earnin missed:
Why a user needs to connect his or her bank account
Disclosure of information storage
FDIC-insured disclosure
SIPC-insured disclosure
Agreement and legal disclosures
For a one-screen “Link Bank” execution, Earnin’s design and use of space is well done. The bullets make the points digestible, and it doesn’t leave you parsing through mounds of text.
At first glance, it looks like Earnin’s “Link Bank” screen hits it out of the park. But, if you take a closer look at the points an app should aim to hit on their “Link Bank” screen, Earnin misses quite a few.
They hammer down the value, but they leave out the reassurances like FDIC insurance and how they store information. I’m curious if this works well for them and if the reassurances are actually more scary than comforting. Earnin’s screen makes linking your bank seem like a product feature, something not to think twice about.
Acorns
Points Acorns hit on:
Why a user needs to connect his or her bank account
Usage of bank-level and data encryption
Disclosure of information storage
Points Acorns missed:
The value a user gets from connecting his or her bank account
FDIC-insured disclosure
SIPC-insured disclosure
Agreement and legal disclosures
Acorns’ “Link Bank” screen is all business. It lists why a user needs to connect his or her bank and some reassurances, but its formality doesn’t leave me any less intimidated. The feeling I get is they assume this is something I will do. Acorns doesn’t go the extra mile to show me the value of moving forward.
Similar to what we did at Twine, they could make a huge improvement by simply updating their header to convey the benefit in addition to the desired action. And, since the very top of the screen also says “link your bank,” they have even more reason to mix up the header with something more compelling.
Also, saying “and more” feels lazy. Perhaps the Acorns team didn’t want to make the text run four lines by outlining what the “more” was. When it comes to safety and security, I’ve found it more effective to fill in the blanks for your users.
Albert
Points Albert hit on:
Why a user needs to connect his or her bank account
Usage of bank-level and data encryption
The value a user gets from connecting his or her bank account
Disclosure of information storage
FDIC-insured disclosure
SIPC-insured disclosure
Agreement and legal disclosures
Points Albert missed:
None
Albert is probably one of the few fintech apps on the market that hit every point an app should make when asking for a user to connect his or her bank account to said app.
The only issue: it took them four screens to do it.
Onboarding is a long, arduous process for users of fintech apps, usually taking somewhere near 10 minutes to complete. Every screen you add to your onboarding process should be purposeful and well thought through.
So, for Albert to dedicate four screens to reassurance is a pretty big bet. They are assuming every user needs this level of reassurance, and they’re also increasing his or her potential drop-off on this step x4.
I don’t work at or for Albert, so this could work wonders for them. While I am skeptical about the length of their flow and the required detail, their content is stellar. It’s specific, friendly, direct, and positive. Bravo, Albert!
A note on button copy
One thing to note about these examples is their different usage of button copy.
We have:
Connect your bank
Next
Continue / Agree and continue
At Twine, we discussed the potential efficacy of ‘link’ versus ‘connect’ in button copy. We decided on ‘link,’ but I’m still curious if ‘connect’ feels less intimidating to a user.
For example, ‘link’ may feel like you are creating a hard-coded linkage between your bank and said app. ‘Connect’ may feel like you’re establishing a connection between your bank and said app that can also be disconnected. People are familiar with disconnecting services, but most people wouldn’t refer to ‘unlinking’ something.
Additionally, while ‘next’ and ‘continue’ may seem less intimidating, it is good UX practice to inform a user of his or her next destination or action whenever possible. ‘Next’ or ‘continue’ could lead you into the unknown, while ‘connect/link your bank’ provides a clear path for the user.
A good template for finding the right words for clear calls-to-action is to fill in the blank in your user’s thought.
So, this:
“Ok, sounds great. Now, I want to _____.”
Becomes this:
“Ok, sounds great. Now, I want to connect my bank.”
Making ‘connect my bank’ your call-to-action.
Another CTA trick: the usage of possessive voice. Also shown in the Twine “Link Bank” screen, at Netflix, we used ‘my’ instead of ‘your’ when referring to connecting or linking a bank account when setting up online banking.
If a user is taking an action, frame it as so. For example, the user is tapping said button to connect his or her own bank. A user isn’t tapping said button to connect someone else’s bank. This personal touch adds a hint of logic that subconsciously makes taking the action feel more natural for the user.
Applying this to your fintech app’s user onboarding
Based on what we’ve seen in these examples, it’s clear that, if you’re not able or willing to dedicate four screens for a user to connect his or her bank account, balance is key.
While the perfect “Link Bank” screen doesn’t exist, here’s what I recommend:
Take this list:
Why a user needs to connect his or her bank account
The value a user gets from connecting his or her bank account
Usage of bank-level and data encryption
Disclosure of information storage
FDIC-insured disclosure
SIPC-insured disclosure
Agreement and legal disclosures
And decide:
What is important to my app
What is important to my users
What do I have space for
